Before World War II Roosevelt's New Deal put Americans to work and established Social Security. After World War II the American economy was substantially a 90% production economy.Today America is a 70% service society

Because developed states cannot balance their budgets against the natural forces of economic globalization, central banks are left printing more money to keep states alive. In effect, the role of fiat money is the creative downsizing or destruction of developed states and the transfer of power and wealth to the newly emerging undeveloped states.

Since becoming a nation back in 1830, Greece has gone bankrupt and kept alive by external loans 5 times and, not withstanding its democratic vote in June of this year, is surely headed to the poorhouse again.